Serbia may face potential fuel shortages if its refineries fail to resume operations soon and the United States does not extend a crucial license for the Russian-owned Oil Industry of Serbia (NIS), energy expert Željko Marković warned.
Marković told N1 that without a renewed license from the U.S. Office of Foreign Assets Control (OFAC), NIS could become “blocked and non-functional,” prompting the government to consider extraordinary measures, including the appointment of a state administrator and the expropriation of Russian-owned shares.
The Serbian government has set a 50-day deadline for Russian owners to sell their stake in NIS, a key component of the country’s energy infrastructure. Failure to do so could see the state take control to safeguard fuel supplies, pricing stability, and broader economic operations.
Minister of Energy Dubravka Đedović Handanović said the government is awaiting a response from Washington on the license extension. In the meantime, Serbia is relying on increased fuel deliveries from Hungary and maintaining domestic refinery operations where possible.
NIS, partially owned by Russia’s Gazprom Neft, has been under U.S. sanctions since 2022, complicating its access to international markets and financial services. Analysts say secondary sanctions could further disrupt Serbia’s energy sector if NIS operations are interrupted.